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New York Hospitality Properties for Sale
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Hospitality Properties For Sale in New York
New York City attracts tourists and business travelers, creating a strong foundation for commercial real estate (CRE) investing in the hospitality sector. The city's infrastructure, featuring busy airports, a comprehensive public transportation system, and landmarks like the Statue of Liberty and Central Park, supports a constant flow of visitors. Prestigious universities such as NYU and Columbia University draw academics and students worldwide. Its location on a major natural harbor has made it a center for trade and commerce, benefiting the hospitality industry.
Hospitality properties in New York gain from the city's role as a global center for finance, culture, and entertainment, attracting a continuous stream of guests. These properties are well-placed to access New York's extensive transportation network, major tourist sites, business areas, and dining venues. Besides hospitality, the city's real estate market offers various investment options. Restaurants tap into the city's culinary variety and the residents' interest in dining out, providing investors a part of New York's famous food scene. Apartment buildings respond to the city's large population and the increasing need for housing, while shopping centers benefit from New York's reputation as a fashion and retail leader. Each type of property, whether a restaurant, a residential building, or a retail center, plays a unique role in New York's real estate market. If you're an investor looking for a property for a 1031 exchange, New York offers properties that could match your requirements.
Learn About Hospitality Properties For Sale in New York
How many Hospitality Properties listings are available for sale in New York?
Currently, there are 16 Hospitality Properties listings available for sale in New York.
What factors should I consider when searching for Hospitality Properties in New York?
When seeking for Hospitality Properties in New York, you should contemplate the assets' location, size, and average price per square foot, as well as the city's economic status and the type of property in question.
- Consider the location's economic indicators, such as New York's gross domestic product ($1.053 trillion in 2022), which signifies robust economic activity that could potentially provide a favorable environment for hospitality properties.
- Hospitality properties in New York have an average price per square foot of $895 with an average size of 40,283 SF.
- The choice of Hospitality Properties is beneficial because of the city's tourism industry. For instance, Times Square is one of the world's leading tourist attractions, indicating a demand for accommodation and hospitality services.
How much does it cost to buy a Hospitality Property in New York?
The cost to purchase a Hospitality Property in New York can largely vary, however, one can get a gauge by looking at the average price per square foot and the average size.
- The average price per square foot for Hospitality Properties in New York is $895.
- On average, Hospitality Properties for sale in New York offer 40,283 SF of space.
What is the largest Hospitality Property available to buy in New York?
The largest Hospitality Property available to buy in New York measures 132,163 SF in size.
Why is New York an ideal location for Hospitality Properties?
New York, a global hub for culture, finance, and media, provides a dynamic environment conducive for Hospitality Properties benefitting from the city's large and diverse population, influential corporate sector, and prestigious global standing.
- With a population of over many millions, New York presents a substantial and diverse consumer market, providing a sizable potential customer base for Hospitality Properties.
- As home to many Fortune 500 corporations and leading financial exchanges like the New York Stock Exchange and Nasdaq, the city offers extensive opportunities for corporate partnerships and events, thereby enhancing the demand for Hospitality Properties.
- Given its status as a global hub, New York attracts a high volume of international tourists and business travelers boosting the operation of 16 Hospitality Properties, bolstered by its prestigious reputation and extensive transport infrastructure.
Size Summary For New York Hospitality Properties
| Hospitality Property Size | Square Feet |
|---|---|
| Maximum | 132,163 SF |
| Average | 40,283 SF |
| Minimum | 600 SF |
Cap Rate for New York Hospitality Properties
| Hospitality Property Cap Rate | Cap Rate Percentage |
|---|---|
| Maximum | 13.03% |
| Average | 8.25% |
| Minimum | 2.82% |
Prices for New York Hospitality Properties
| Hospitality Property Price | Price Per SF |
|---|---|
| Maximum | $1,599 Per SF |
| Average | $895 Per SF |
| Minimum | $550 Per SF |
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